DUBLIN, September 24, 2021--(BUSINESS WIRE)--The "School and Employee Bus Services Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global school and employee bus services market reached a value of nearly $40,642.2 million in 2020, having increased at a compound annual growth rate (CAGR) of 0.5% since 2015. The market is expected to grow from $40,642.2 million in 2020 to $65,175.3 million in 2025 at a rate of 9.9%. The market is then expected to grow at a CAGR of 6.8% from 2025 and reach $90,611.9 million in 2030.
Growth in the historic period in the school and employee bus services market resulted from strong economic growth in emerging markets, low interest rate environment, rapid urbanization, and lifestyle changes and increased safety threats. The market was restrained by oil and petrol price volatility.
Going forward, rising population, technological advances, emphasis on cutting carbon emissions, and increasing number of corporates and new educational institutes will drive the growth in the school and employee bus services market. Factors that could hinder the growth of the market in the future include COVID-19 implications, increasing car ownership, and intense competition.
The school and employee bus services market is segmented by type into students bus services, and employee bus services. The students bus services segment was the largest segment of the school and employee bus services market segmented by type, accounting for 63.5% of the total in 2020. Going forward, the students bus services segment is expected to be the fastest growing segment in the school and employee bus services market segmented by type, at a CAGR of 10.3% during 2020-2025.
North America was the largest region in the school and employee bus services market, accounting for 29.8% of the total in 2020. It was followed by the Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the school and employee bus services market will be Middle East and South America where growth will be at CAGRs of 17.6% and 13.8% respectively during 2020-2025. These will be followed by Africa and Asia-Pacific, where the markets are expected to register CAGRs of 12.0% and 10.3% respectively during 2020-2025.
The pandemic disrupted many businesses and changed the way businesses worked. Many countries-imposed lockdown and stopped all activities such as schools, colleges, offices. This halt created a major impact on the school and employee bus services market causing financial crisis for the companies and employees working for them.
In August 2020, the Bus and Car Operators Confederation of India (BOCI) and School Bus Owner Association have urged the Maharashtra government in India to provide immediate relief to school bus operators and their staff.
Over 50,000 school buses and around 0.15 million bus staffers were in financial distress as they have lost their jobs. Transdev, a France based bus service provider recorded an 8.9% decline in its revenue during the pandemic. The company's total earnings were reduced by 21.7% in 2020 as compared to the previous year. The firm was negatively impacted by the COVIDovid-19 health crisis and continues to have a great impact on the business.
The school and employee bus services market is highly fragmented with a large number of small players operating in the market. The top ten competitors in the market made up to 11.14% of the total market in 2020. Major players in the market include FirstGroup Plc, National Express Group, Student Transportation Inc., Transdev, and North America Central School Bus.
The top opportunities in the school and employee bus services market segmented by type will arise in students bus services segment, which will gain $16,233.4 million of global annual sales by 2025. The school and employee bus services market size will gain the most in the USA at $4,527.0 million.
Market-trend-based strategies for the school and employee bus services includes integration of USB, Wi-Fi and large screen displays on buses, increase in bus safety features, investments in electric buses, installing hybrid buses, implementation of advanced technologies, and mergers & acquisitions.
Player-adopted strategies in the school and employee bus services market includes strategic acquisition of emerging and established transportation services providers, and investments in energy-efficient and environment friendly school buses to meet its sustainability goals and government initiatives towards reducing carbon-footprint.
To take advantage of these opportunities, the publisher recommends the school and employee bus services companies to focus on electric buses, integrating technologies, improving safety of children, partnering with local governments, expand in emerging markets, provide competitively priced offerings, offer promotions through referral programs, social media platforms, conduct campaigns and fairs, and focus on parents of young children among other strategies.
Key Topics Covered:
1. School And Employee Bus Services Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6.1. Segmentation By Geography
6.2. Segmentation By Type
7. School And Employee Bus Services Market Characteristics
7.1. Market Definition
7.2. Market Segmentation By Type
7.2.1. School Bus Services
7.2.2. Employee Bus Services
8. School And Employee Bus Services Market, Product/Service Analysis -Product/Service Examples
9. School And Employee Bus Services Market, Supply Chain Analysis
9.2. Other Services Providers
10. School And Employee Bus Services Market Customer Information
10.1. Challenges Faced By School Bus Transportation Providers
10.2. Privatizing Transportation Services
10.3. Preference For Supervised Organized School Transport
10.4. Innovative Bus Services
10.5. Relation Between Income And Bus Service
11. School And Employee Bus Services Market Trends And Strategies
11.1. Integration Of USB, Wi-Fi And Large Screen Displays On Buses
11.2. Increase In Bus Safety Features
11.3. Electric Buses
11.4. Hybrid Buses To Reduce Environmental Impact
11.5. Use Of Advanced Technologies
11.6. Onboard WiFi
11.7. Mergers And Acquisitions
12. Impact Of COVID-19 On The School And Employee Bus Services Market
12.1. Closure Of Schools During Lockdown
12.2. Major Layoffs
12.3. Increase In Costs
12.4. Future Outlook
13. Global School And Employee Bus Services Market Size And Growth
13.1. Market Size
13.2. Historic Market Growth, 2015 - 2020, Value ($ Million)
13.3. Forecast Market Growth, 2020 - 2025, 2030F, Value ($ Million)
14. School And Employee Bus Services Market, Regional Analysis
14.1. Global School And Employee Bus Services Market, By Region, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
14.2. Global School And Employee Bus Services Market, 2015 - 2025, Historic And Forecast, By Region
14.3. Global School And Employee Bus Services Market, 2020 - 2025, Growth And Market Share Comparison, By Region
15. Global School And Employee Bus Services Market Segmentation
15.1. Global School And Employee Bus Services Market, Segmentation By Type, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
16. Global School And Employee Bus Services Market Comparison with Macro Economic Factors
16.1. School And Employee Bus Services Market Size, Percentage Of GDP, Global
16.2. Per Capita Average School And Employee Bus Services Market Expenditure, Global
National Express Group
Student Transportation Inc.
North America Central School Bus
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